| S 2814 IS
107th CONGRESS
2d Session
S. 2814
To amend the Farm
Security and Rural Investment Act of 2002 to clarify the rates applicable
to marketing assistance loans and loan deficiency payments for other oilseeds.
IN THE SENATE OF THE UNITED
STATES
July 29, 2002
Mr. DORGAN (for himself, Mr.
ROBERTS, Mr. CONRAD, Mr. JOHNSON, and Mr. BROWNBACK) introduced the following
bill; which was read twice and referred to the Committee on Agriculture,
Nutrition, and Forestry
A BILL
To amend the Farm
Security and Rural Investment Act of 2002 to clarify the rates applicable
to marketing assistance loans and loan deficiency payments for other oilseeds.
Be it enacted by the
Senate and House of Representatives of the United States of America in
Congress assembled,
SECTION 1. MARKETING ASSISTANCE
LOANS AND LOAN DEFICIENCY PAYMENTS FOR OTHER OILSEEDS.
(a) DEFINITION OF OTHER
OILSEED- Section 1001(9) of the Farm Security and Rural Investment Act
of 2002 (7 U.S.C. 7901(9)) is amended by inserting `crambe, sesame seed,'
after `mustard seed,'.
(b) LOAN RATES FOR NONRECOURSE
MARKETING ASSISTANCE LOANS- Section 1202 of the Farm Security and Rural
Investment Act of 2002 (7 U.S.C. 7932) is amended--
(1) in subsection (a), by
striking paragraph (10) and inserting the following:
`(10) In the case of other
oilseeds:
`(A) In the case of oil
sunflower seed, confectionery sunflower seed, and other types of sunflower
seed, $.0960 per pound, except that the Secretary shall establish a single
sunflower loan rate in each county for all seed described in this subparagraph.
`(B) In the case of rapeseed,
$.0960 per pound.
`(C) In the case of canola,
$.0960 per pound.
`(D) In the case of safflower,
$.0960 per pound.
`(E) In the case of flaxseed,
$.0960 per pound.
`(F) In the case of mustard
seed, $.0960 per pound.
`(G) In the case of crambe,
$.0960 per pound.
`(H) In the case of sesame
seed, $.0960 per pound.
`(I) In the case of another
oilseed designated by the Secretary, $.0960 per pound.'; and
(2) in subsection (b), by
striking paragraph (10) and inserting the following:
`(10) In the case of other
oilseeds:
`(A) In the case of oil
sunflower seed, confectionery sunflower seed, and other types of sunflower
seed, $.0930 per pound, except that the Secretary shall establish a single
sunflower loan rate in each county for all seed described in this subparagraph.
`(B) In the case of rapeseed,
$.0930 per pound.
`(C) In the case of canola,
$.0930 per pound.
`(D) In the case of safflower,
$.0930 per pound.
`(E) In the case of flaxseed,
$.0930 per pound.
`(F) In the case of mustard
seed, $.0930 per pound.
`(G) In the case of crambe,
$.0930 per pound.
`(H) In the case of sesame
seed, $.0930 per pound.
`(I) In the case of another
oilseed designated by the Secretary, $.0930 per pound.'.
(c) REPAYMENT OF LOANS-
Section 1204 of the Farm Security and Rural Investment Act of 2002 (7 U.S.C.
7934) is amended--
(1) in subsection (a), by
striking `and extra long staple cotton' and inserting `extra long staple
cotton, oil sunflower seed, confectionery sunflower seed, or any other
type of sunflower seed';
(2) by redesignating subsection
(f) as subsection (g); and
(3) by inserting after subsection
(e) the following:
`(f) REPAYMENT RATES FOR
SUNFLOWER SEEDS- The Secretary shall permit the producers on a farm to
repay a marketing assistance loan under section 1201 for oil sunflower
seed, confectionery sunflower seed, or any other type of sunflower seed
at a rate that is the lesser of--
`(1) the loan rate established
for the commodity under section 1202, plus interest (determined in accordance
with section 163 of the Federal Agriculture Improvement and Reform Act
of 1996 (7 U.S.C. 7283)); or
`(2) the repayment rate
established (on the basis of the prevailing market price) for oil sunflower
seed.'.
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